Category: Articles

Inherent power of the Tribunals: Can they recall their own orders?

– By By Adv. Amir Bavani, Adv. Rishika Kumar & Divya K, AB Legal The Insolvency and Bankruptcy Code, 2016 (‘Code’) has been designed to create a strong insolvency regime which saves businesses that are viable and facilitates the exit of those that are not, in a time-bound manner. The Code lays emphasis on an […]

Section 12A withdrawal prior to constitution of CoC: A smooth exit or legal quagmire

By Adv. Amir Bavani and Adv. Rishika Kumar, AB Legal Introduced by the legislature in 2016, Insolvency & Bankruptcy Code (‘IBC/Code’), since then have undergone some major changes which intends towards filling the lacunae in the framework as and when identified by the Hon’ble Apex Court of the country. In the recent times, one of […]

NeSL in Insolvency Proceedings: Mandatory Requirement or Mere Evidentiary Aid?

By Adv. Amir Bavani, Adv. Rishika Kumar & Adv. Pavni Dada, AB Legal India’s Insolvency and Bankruptcy Code, 2016 (‘IBC/Code’) was enacted with the clear objective of providing a time-bound and transparent mechanism for resolving cases of corporate insolvency. The very foundation of the process lies in evidence, because a creditor cannot succeed in initiating […]

Solvent Companies under the Insolvency and Bankruptcy Code: Unwrapping the Conundrum

Authored by: Amir Bavani, Founder, AB Legal Rishika Kumar, Senior Associate, AB Legal Anirban Aly Mandal, Associate, AB Legal The Insolvency and Bankruptcy Code, 2016 (‘IBC/Code’) with passage of time, has seen several legislative amendments, which were introduced to improvise the insolvency & liquidation processes under the Code and advance its aims in line with […]

Scope of Mediation in Insolvency Proceedings – Bespoke approach for the complete Code

Authored by: Amir Bavani, Founder, AB Legal Rishika Kumar, Senior Associate, AB Legal Anirban Aly Mandal, Associate, AB Legal Introduction With the advent of the Insolvency and Bankruptcy Code, 2016 (‘Code/IBC’), the framework for resolution of stressed assets and corporate entities was transformed into a streamlined, risk-friendly and timebound endeavor. The ecosystem of commerce in […]

Determining the Date of Default under Section 9 of IBC – The usual Conundrum

Introduction Many unanswered questions have persisted since the implementation of the Insolvency and Bankruptcy Code of 2016 (“the IBC/Code”), and few concrete solutions have been laid down by the judiciary which have further been affirmed and introduced under the Code as amendment by the legislature. However, there are very peculiar issues still subsisting in the […]

Critical Analysis of the Mandatory Issuance of Notices under Rule 8 and Rule 9 of the Security Interest (Enforcement) Rules, 2002

Introduction The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘SARFAESI Act’) provides for methods that can be undertaken by a secured creditor to recover its dues in case of a default. The main provision under the SARFAESI Act is Section 13 relating to ‘Enforcement of Security Interest’ describing the manner, timelines and procedures […]

Wilful Defaulter’s Right Under the Indian Regime

Reserve Bank of India (‘RBI’), the Apex Bank of the country is bestowed with the power to regulate the banks as well as financial institutions (FIs) of the Country. From time-to-time RBI issues numerous circulars laying down its instructions and guidelines which all the subordinate banks are bound to follow. Among several circulars, the most […]